46,623 Shares in Synopsys, Inc. (NASDAQ:SNPS) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 46,623 shares of the semiconductor company's stock, valued at approximately $22,666,000.

Other institutional investors also recently bought and sold shares of the company. Kieckhefer Group LLC purchased a new position in Synopsys during the fourth quarter valued at approximately $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at $33,000. Sierra Ocean LLC bought a new position in shares of Synopsys in the 4th quarter worth $39,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Synopsys by 28.6% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 20 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Synopsys by 50.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 98 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 33 shares in the last quarter. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

Synopsys Stock Up 1.5 %

Shares of Synopsys stock traded up $5.96 on Friday, reaching $412.85. 654,141 shares of the stock were exchanged, compared to its average volume of 1,085,525. The business has a 50 day moving average price of $459.56 and a two-hundred day moving average price of $498.75. The firm has a market capitalization of $63.84 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 3.23 and a beta of 1.23. Synopsys, Inc. has a twelve month low of $365.74 and a twelve month high of $624.80.

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Wall Street Analysts Forecast Growth

SNPS has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Synopsys in a report on Monday, January 13th. They issued a "buy" rating and a $600.00 target price for the company. Piper Sandler decreased their target price on shares of Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $650.00 price target on shares of Synopsys in a report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Synopsys currently has an average rating of "Moderate Buy" and an average price target of $638.58.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares of the company's stock, valued at approximately $51,850,925.82. This trade represents a 11.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sassine Ghazi sold 11,366 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total value of $5,270,982.50. Following the completion of the transaction, the chief executive officer now directly owns 70,922 shares of the company's stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,909 shares of company stock worth $22,794,835. Company insiders own 0.62% of the company's stock.

Synopsys Company Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.